Former President John Dramani Mahama has lamented African countries’ over-reliance on foreigners for commodities such as rice.
Africa, he said, must strive for self-sufficiency in key strategic commodities and supplies.
“We must push for self-reliance for key strategic commodities and supplies such as rice, tomatoes, onions, and vegetable oil, for which we have comparative advantage,” Mr. Mahama said at the Harvard Business School’s 24th African Business Conference. It’s a pity that Africa continues to import these commodities when we have excellent growing conditions.”
He also suggested that Africa should have complete control over natural resource trade and processing.
“Africa must gain greater control over the trade and processing of its natural resources, such as cocoa and minerals, and strengthen its capacity to respond to global energy shocks resulting from situations like the Russia-Ukraine conflict,” says the report.
“Many African countries, including Ghana, have reached debt distress levels, with debt-to-GDP ratios ranging from 70% to 80%.”
“I’m advocating for a reintroduction of the Debt Service Suspension Initiative to provide fiscal space for our countries to invest in critical areas like education and health.”
